REGISTERED NUMBER: 294517 (England and Wales)
## REPORT OF THE TRUSTEES AND
RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDING 31 MARCH 2024 FOR
TRA INING SHIP BROADSWORD SEA TRA INING CORPS
Training Ship Broadsword Sea Training Corps 178 Woodfield **Park** Cool Oak Lane West Hendon London **NW97ND**
TRAINING SHIP BROADSWORD SEA TRA INING CORPS ACCOUNTS FOR THE YEAR ENDED 315t
**MARCH** 2024
## **CONTENTS OF THE ACCOUNTS**
> Index Page Charity Information Page Report of the Trustees Page Trustees Report continued Page Chairman's Report Page General Account Receipts and Payments Page Project Account Receipts and Payments Page Accountants' Report to the Trustees Page Statement of Assets and Liabilities Page Trustees' responsibilities Page Notes to the Financial Statements Page
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TR AINING SHIP BROADSWORD SEA TRA INING CORPS ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2024
**CHARITY INFORMATION CHARITY NAME:** Training Ship Broadsword Sea Training Corps **PRINCIPAL** OFFICE: Cool Oak Lane Hendon London NW9 7ND
**MAILING ADDRESS:** Cmdr. G F Beck MBE - B.Ed. 3 Glenwood Avenue Kingsbury London NW9 7PL **TRUSTEES:** Cmdr. G F Beck MBE - B.Ed. Lt. Cdr. J A Beck Lt. P. Turton Lt. A. Mason Mr M Jacobs Mr P Fitzpatrick Mr P Fitzpatrick Mr A Heerasing **REGISTERED CHARITY NUMBER:** 294517 **BANKERS:** Lloyds Bank Pie Hampstead London **INDEPENDENT EXAMINERS:** Cedar Accountancy Limited Registered Company Number 8555020 Santa Rosa Broughton Road Stoney Stanton Leicestershire LE9 4JA
## **The Trustees wish to thank the following for their donations:** •
Clothworkers Foundation National Lottery (Community Fund) Rose Foundation Sport England
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TRAINING SHIP BROADSWORD SEA TRAINING CORPS ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2024
## **TRUSTEES REPORT**
## **Meeting Held on Friday 12" April 2024**
Training Ship Broadsword Sea Training Corps (TS Broadsword STC) is an unincorporated organisation and is registered as a charity, number 294517, in accordance with the Charities Act 2011. It is governed by a Constitution dated 6 May 1986, which was amended on 16 February 2006 to remove the requirement of an audit to be performed on the financial statements.
The primary objective of the charity is to encourage the mental, physical and spiritual development of young people, known as cadets, in order that they might develop into responsible adult members of society, through the medium of Royal Naval routines, traditions and other studies.
The Trustees are appointed by resolution of the existing trustee body and the management committee. All material items are discussed and agreed by the management committee, all other items including the day to day running of the charity are the responsibilities of the Trustees.
## **Projects and activities**
The charity organised several outings during the year for the cadets to participate, such as attending civil and military events, orienteering, abseiling, camping trips, sailing trips, canoeing, athletics competitions, football matches and taking part in fundraising activities. These activities take place off site, such as shopping centres, school fetes and carnivals. There are also a number of events that are held at TS Broadsword HQ such as rock climbing, abseiling, football, camping, open days and band days and many fundraising events which all the cadets take part in.
All staff and volunteers are unpaid and provide their services and time freely; without **this** support the charity would find it extremely difficult to continue to run and provide the activities described above.
Our plans for next year are to continue trying to obtain further funding to enable the continuation of the charity's objectives although the Trustees appreciate this will be difficult due to the current ongoing economic climate. It is anticipated that funding will be even harder to obtain, therefore the Trustees intend to increase collections, fete stalls and to hold car boot sales every six weeks to try to maintain and increase income. It is also planned to try to work closer with Cadet Corps and other local clubs.
## **Reserves policy**
The Trustees of the charity intend to keep on reserve, sufficient amounts to ensure that the day to day running of the Unit can continue for between six to twelve months. It is hoped this would enable adequate time to find replacement funding. However, funding is always being searched for so that the charity can continue. At present there are no free reserves but the Trustees do not have any large building or maintenance works or capital asset additions planned and hope to be able to build up reserves in the future. These reserves are required to cover the running costs of the charity and to fund building works necessary for the continuation of the Unit.
## **Investment policy**
The Trustees have considered the policy for investments.
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TRAINING SHIP BROADSWORD SEA TRAINING CORPS ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2024
## **TRUSTEES REPORT (CONTINUED)**
## **Internal and External Works**
The Trustees are pleased to report that during the year the internal works continued apace. The suspended ceilings for insulation along with energy efficient lighting panels have been fitted almost everywhere along with the new washable nonslip floor tiles. The grounds and the surrounding areas landscaped and maintained by our own self help.
## **Risk review**
The Trustees have performed a risk review, and this has resulted in ensuring the Public Liability Insurance provides adequate cover and the possibility of a Health and Safety Review. The Trustees realise that the continuation of the charity is dependent on the support of volunteers and to ensure this exists a good relationship is maintained with the volunteers.
## **Record of thanks**
The Trustees would like to take this opportunity to thank all the members, volunteers and the public who have contributed their time and services to the charity over the last year and hope to repeat the success in the future.The Trustees would also like to recognise and thank the donors for their help and assistance during the year, however large or small, towards projects and running costs, which is imperative. Without this support the vitally important work that the voluntary staff and helpers perform to continue the charity's objectives in offering the younger generation stability, security, a sense of belonging and respect for other persons and property, would be even more difficult to achieve.
We would like to welcome the four new trustees Mr Mark Jacobs, Mr Pearse Fitzpatrick, Mr Padraig Fitzpatrick and Mr Arran Heerasing who were endorsed by all members. The Trustees further mentioned that they were pleased to note that the charity's numbers are increasing.
It is with great sadness that we note the passing of four of our members last year.
Sadly, we should remember three of our Senior Citizen Lunch Club members who also passed away last year.
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TRAINING SHIP BROADSWORD SEA **TRAINING** CORPS ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2024
## **CHAIRMAN'S REPORT**
The Chairman gave a warning that there is still a lot of work to be done albeit we did have some funding set aside for this but stated that one project alone, the restoration of the Unit's cess pool would be in excess of £26,000 and that another, the 30 year old roof needed costly attention.
He went on to say that the second hand carpet tiles laid throughout were now a disgrace and needed replacement by maintenance free, rubber interlocking tiles which would cost some £10,000 due to the area to be covered; however this cost should not increase due to self help and was pleased to say a lot of this has now been done in 2023/2024. We are pleased to report the tiles for the next phase have been purchased and are on site awaiting fitting.
## **ON BEHALF OF THE BOARD OF TRUSTEES:**
_e •_ I .· . · Signed: : -.t ; . Signed: ..\ . " Lt. Cmdr. J A Beck - Cmdr. G F Beck MBE - B.Ed. -Trustee Trustee • .
Date .. · _[/][S]_ u _[i]_ , ..
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TRAINING SHIP BROADSWORD SEA TRAINING CORPS ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2024
## **GENERAL ACCOUNT RECEIPTS AND PAYMENTS**
## **Lloyds Bank Account Number 01777666 Sort Code 30-93-80**
||**Details**|**Receipts**Payments**Balance**|**Receipts**Payments**Balance**||
|---|---|---|---|---|
|Opening Balance||£1,047:84|||
|Groundmaintenance|||£580:00||
|Transfer offunds||£3,000:00|£21,500.00||
|GiftAid(HMRC)||£924:00|||
|Subscriptions||£1,538:00|||
|Uniformdeposits||£570:00|£105.00||
|Galley||£888:49|£497:81||
|Stores||£648:50|£749:30||
|Purchase ofequipment|||£801 :53||
|Maintenance ofequipment|||**£284.87**||
|Vehicleinsurance, tax,|MOT andmaintenance||24,45389||
|Travelandfuel|||£141.20||
|Postage|||£205:35||
|Stationery andprinting|||£470.62||
|Headquartersmaintenance|||1130.00||
|Fundraising, donations|andprofessional fees|£46,099.48|5,228.09||
|Presentation and open evenings andceremonials||£849:00|£801.34||
|Camps andcourses||£1,266.78|**£712 26**||
|Affiliationfees and DBS checks|||£254:82||
|Bank charges andinterest|||£457.64||
|Cesspit empties|||1.000.0||
|Services: Gas, electric|andwater||2,116.2||
|Building, contents andpersonnel insurance|||£65.°||
|Phones andinternet|||£715||
|Businessrates|||£917||
|Ground rent|||**1937**.5¢||
|ADT Alarm system|||**£458.**_5_||
|Refundfrom Shell Energy||£2:20|||
|Sale ofequipment||£59.38|||
|**RunningTotals**||**£56,893:67**|3581|**£3,312:40**|
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TRAINING SHIP BROADSWORD SEA TRAINING CORPS ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2024
## PROJECT ACCOUNT RECEIPTS **AND PAYMENTS**
## **Lloyds Bank Account Number 01777550 Sort Code 30-93-80**
**Details Receipts Payments Balance** Opening Balance £38,070.80 Building work and refurbishments £6,997.80 Camps, courses, activities and equipment purchases £2 546:60 Bank charges and interest £89: 5 Transfers of funds I £21,500:00 £3 000: 0 Vehicle insurance £695.75 Building, boats and other equipment, personnel and public liability **£3,817.87** insurances **£59,570:80 17,147: £42,422:83**
The balance of the project account is committed to maintaining Broadsword's centre and the development of voluntary staff to enable income generation.
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TRAINING SHIP BROADSWORD SEA **TRAINING** CORPS ACCOUNTS FOR THE YEAR ENDED 31st
MARCH 2024
## **ACCOUNTANTS' REPORT**
Accountants' report to the Trustees on the unaudited financial statements of TRAINING SHIP BROADSWORD SEA TRAINING CORPS For the year ended 31 March 2024
As described on the statement of assets and liabilities, the Trustees of the charity are responsible for the preparation of the financial statements for the year ended 31 March 2024 which comprise the receipts and payments accounts and the statement of assets and liabilities and related notes.
You consider that the charity is exempt from an audit under the Charities Act 2011.
In accordance with your instructions, we have prepared the unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Signed: Date:
Cedar Accountancy Limited Santa Rosa Broughton Road Stoney Stanton Leicester LE9 4JA
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TRAINING SHIP BROADSWORD SEA TRAINING CORPS ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2024
## **STATEMENT OF ASSETS AND LIABILITIES**
## **ASSETS RETAINED FOR THE CHARITY'S' OWN USE:**
||Land and buildingsoccupiedfor the sole use of
thecharity|£2,863,304.00|
|---|---|---|
||Threevehiclesand number plates|£20,000:00|
||Training aids andactivityequipment|£12,000:00|
||Galleykitchen, bar equipment and stores|£14,000:00|
||Miscellaneousbedding and racking|£6,000:00|
||Uniform stores|£15,000:00|
||Computers, fax machines andtelephones|£5,000:00|
||Camping equipment|£8,000:00|
||Band stores and associated equipment|£9,000:00|
||Officefurniture|£2,000:00|
||Boats and associated equipment|£20,000:00|
||Furniture|£20,000:00|
||Ceremonial equipment and associated
accessories|£10,000:00|
||Tools, lawnmowerandassociatedequipment|£10,000:00|
||..||
||Banqueting equipment||
||£10,000:00||
|{|Entertainment equipment-|£10,500.00|
|||TOTAL£3,024,804.00|
Unrestricted assets are shown at valuation as obtained by the Trustees of the charity. The Trustees consider the valuations to be reasonable, based on second hand market valuations. **Investments: £15,375.00 LIABILITIES:** Uniform deposits £11,200.000.00000 200.000.00000
£11,200.000.00000
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TRAINING SHIP BROADSWORD SEA TRAINING CORPS
ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2024
## **TRUSTEES' RESPONSIBILITIES**
For year ending 31 March 2024 the charity was entitled to exemption from audit under the Charities Act 2011.
Trustees' responsibilities:
The members have not required the charity to obtain an audit of its financial statements for the year in question in accordance with the Act.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions of Charities Act subject to the small charities regime and in accordance with The Financial Reporting Standard applicable in the UK and Republic of Ireland.
## **SIGNED ON BEHALF OF THE BOARD OF TRUSTEES:**
Cmdr. G. F. Beck **MBE -** B.Ed. -- Trustee.
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TRAINING SHIP BROADSWORD SEA TRAINING
CORPS ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2024
## NOTES TO THE **FINANCIAL** STATEMENTS
## **BASIS OF PREPARATION**
These financial statements comply with the Charities Act.
## **TRUSTEES EXPENSES**
There were no expenses paid to any of the charityTrustees for the year ended 31 March 2023 or for the year ended 31 March 2024.
## **STAFF COSTS**
There are no employees of the charity, all work is contributed voluntarily.
## **LAND AND BUILDINGS**
## **Restricted**
The restricted element of the land and buildings relates to improvements.
## **Unrestricted**
Land and buildings are held under a lease between l.B.B. and the Trustees of Sea Training Corps. The lease expires on 27 February 2057 and has an annual rent of £1,550.
## **DESIGNATED FUNDS**
Designated funds comprise of unrestricted funds that can and have been set aside by the Trustees for particular purposes. Income from donations, grants and from benefactors has/have been used in respect of the assistance in the running of the charity and as such a financial value cannot be easily attributed. Such benefits are excluded from the statement of financial activities.
## **EXPENDITURE**
All expenditure by TS Broadsword is accounted for and has been classified under relevant headings that aggregate all costs related/incurred by that category. Expenditure involving more than one category and within the parameters of the administration of the charity has/have been apportioned by the Trustees on a reasonable, justifiable and consistent basis.
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